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Conversion proceeds and the wildcard exemption
Too late for constructive trust remedy so that it is not the debtors money to exempt?
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On Nov 30, 2013, at 6:19 PM, stephen burton wrote:
> Prior to bankruptcy, thief steals $10,000 from creditors residence. A civil court determines, by default, because thief never answers the complaint, that the theft was conversion.
>
> Judgment is over 6 months old. Way over.
>
> When creditor levies on the bank account (and safety deposit box), the Sheriff finds about $8,000 in the box.
>
> I know, the facts are great.
>
> thief files bankruptcy. Claims the wildcard exemption saying regardless of whose money it is, and the bills cannot be traced by the way, that debtor thief gets to keep the money because the wildcard trumps the conversion judgment.
>
> Creditor is going to object to the Debtors discharge because even if the debtor gets to keep the money under the wild card, creditor wants to preserve his judgment.
>
> I can find nothing under the exemption statutes and in the cases that say the debtor thief does not get to enjoy the exemption even though the proceeds were converted. There are cases where specific things are taken should as jewelry, but that is because unlike money, such specific items are readily identifiable.
>
> Anyone have different experiences?
>
> Thank you in advance.
>
> Steve Burton
>
The post was migrated from Yahoo.
Prior to bankruptcy, thief steals $10,000 fromcreditors residence. A civil court determines, by default, because thief never answers the complaint, that the theft was conversion.
Judgment is over 6 months old. Way over.
When creditor levies on the bank account (and safety deposit box), the Sheriff finds about $8,000 in the box.
I know, the facts are great.
thief files bankruptcy. Claims the wildcard exemption saying regardless of whose money it is, and the bills cannot be traced by the way, that debtor thief gets to keep the money because the wildcard trumps the conversion judgment.
Creditor is going to object to the Debtors discharge because even if the debtor gets to keep the money under the wild card, creditor wants to preserve his judgment.
I can find nothing under the exemption statutes and in the cases that say the debtor thief doesnot get to enjoy the exemption even though the proceeds were converted. There are cases where specific things are taken should as jewelry, but that is because unlike money, such specific items are readily identifiable.
Anyone have different experiences?
Thank you in advance.
Steve Burton
The post was migrated from Yahoo.